Welsis Corp. Reports No Revenue and Increased Losses in Latest Financial Filing

Welsis Corp. reported significant financial challenges in its latest 10-Q filing for the quarter ending March 31, 2025. The company recorded no revenue during the three and six months ended March 31, 2025, a stark contrast to the $2,000 in revenue generated during the same period in 2024. The net loss for the quarter was $8,708, compared to a net income of $39,975 in the previous year. For the six-month period, the net loss deepened to $32,964, compared to a net income of $26,711 in the prior year. The company's operating expenses decreased to $6,507 for the quarter, down from $14,026, but the absence of revenue led to a continued financial strain.

The company's balance sheet reflects a total liability of $125,668 as of March 31, 2025, up from $89,641 at the end of the previous fiscal period. This increase is attributed to a rise in long-term liabilities, particularly a convertible note payable that surged to $53,103 from $17,945. Welsis Corp. also reported a working capital deficiency of $69,502, slightly improved from $71,696 in the prior period, primarily due to an increase in accrued interest and accounts payable. The accumulated deficit has grown to $198,400, raising concerns about the company's ability to continue as a going concern.

Strategically, Welsis Corp. has undergone significant changes, including a shift in management and a new focus on the cryptocurrency and blockchain sector. Following the acquisition of a majority stake by Skywest Pinnacle Limited in April 2024, Kwok Boon Kit was appointed as the new CEO. The company also launched TokenTraders.net, a cryptocurrency exchange platform, in September 2024, aiming to diversify its business model and generate new revenue streams.

Operationally, Welsis Corp. remains in a development stage, with no significant customer counts or user statistics reported for its new cryptocurrency platform. The company has not disclosed any engagement metrics or geographic expansion data, indicating that it is still in the early phases of establishing its market presence. The employee headcount remains unchanged at 2,752,667 shares issued and outstanding, with no new hires reported in the filing.

Looking ahead, Welsis Corp. acknowledges the need for additional capital to support its operations and growth plans. The management intends to raise funds through equity or debt securities, although no specific plans are in place. The company’s ability to continue operations will depend on its success in generating revenue and securing necessary funding. The financial statements indicate that the company is actively seeking to implement its business plan, but substantial doubt remains regarding its ability to sustain operations without further capital infusion.